M&S Bank reduces loan rate

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Following its re-branding, M&S Bank has reduced its loan rates for medium sized borrowing by 0.2%.

The basics…

This loan offers a rate of 5.8% APR for borrowing between £7,500 and £15,000. Customers borrowing £7,500 over five years could expect to pay £143.78 per month.

The finer details….

The minimum borrowing term for the M&S Bank Personal Loan is twelve months. Customers must remember that the rate offered for this loan is representative and dependent on credit rating and the amount and term of the loan. This personal loan can be operated online or by telephone.

Why we like it...

This loan offers a competitive rate to those looking for a medium-sized loan over five years and has been awarded four out of five Moneyfacts stars.